Sugar prices dilute on soaring stocks
Sugar prices notched down by Rs 50 per quintal at the wholesale market in the national capital today, pulled down by ample stocks on availability due to relentless supplies from mills amid negligible buying support from stockists and bulk consumers.
Marketmen said huge stocks positions following increased arrivals from mills along with negligible offtake by stockists and bulk consumers such as soft-drink makers, led to the fall in prices.
Meanwhile, Food Minister Ram Vilas Paswan yesterday said that the country has no shortage of sugar and the government will ensure retail prices of the sweetener remain stable during the ongoing festive season.
Coming to the price section, sugar ready M-30 and S-30 plunged by Rs 50 each to settle the day at Rs 3,930-4,070 and Rs 3,920-4,060 per quintal, respectively.
Similarly, mill delivery M-30 and S-30 prices dropped by Rs 30 each to finish at Rs 3,595-3,770 and Rs 3,585-3,760 per quintal.
In the mill gate section, sugar Chandpur lost the most of Rs 50 to Rs 3,650, followed by Kinnoni, Asmoli and Nazibabad, which fell by Rs 30 each to Rs 3,770, Rs 3,730 and Rs 3,600 per quintal.
Sugar Budhana, Thanabhavan, Anupshaher, Sakoti and Nanota slipped by Rs 25 each to Rs 3,730, Rs 3,725, Rs 3,595, Rs 3,695 and Rs 3,605 per quintal.
Prices of Khatuli and Shamli declined by Rs 20 each to Rs 3,770 and Rs 3,700 while Dhanora and Ramla by Rs 15 each to Rs 3,735 and Rs 3,615 per quintal.
Following are today’s quotations (in Rs per quintal)
Sugar retail markets – Rs 39.00-43.00 per kg.
Sugar ready: M-30 Rs 3,930-4,070, S-30 Rs 3,920-4,060.
Mill delivery: M-30 Rs 3,605-3,770, S-30 Rs 3,595-3,760.
Sugar millgate (including duty): Mawana Rs N.Q., Kinnoni Rs 3,770, Asmoli Rs 3,730, Dorala Rs 3,750, Budhana Rs 3,730, Thanabhavan Rs 3,725, Dhanora Rs 3,735, Simbholi Rs N.Q, Khatuli Rs 3,770, Dhampur Rs 3,690, Ramala Rs 3,615, Anupshaher Rs 3,595, Baghpat Rs 3,625, Morna Rs 3,620, Sakoti Rs 3,695, Chandpur Rs 3,650, Nazibabad Rs 3,600, Modinagar N.Q., Shamli 3,700 and Nanota 3,605.
Source: Business Standard; Published on 21/09/2017